Class 8 Auction Market Took a Breather in August
August was a low-volume month for the Class 8 auctions, with a combination of fewer auctions on the calendar and fewer trucks sold. As such, there wasn’t much data to get a read on. Despite the mixed results below, we don’t see anything that indicates a market shift. See chart below for detail:
- Model year 2018: $71,825 average; $4,440 (5.8%) lower than July
- Model year 2017: $55,581 average; $4,413 (8.6%) higher than July
- Model year 2016: $45,957 average; $2,249 (4.7%) lower than July
- Model year 2015: $40,985 average; $228 (0.6%) higher than July
- Model year 2014: $34,374 average; $4,947 (16.8%) higher than July
Month-over-month, our benchmark group of 4-6 year-old trucks brought 1.3% less money. Compared to the first 8 months of 2020, this group is running 84.7% ahead, and compared to the same period of 2019, 53.1% ahead. Late-model trucks have appreciated 3.4% per month on average in 2021 to date.
Late-model trucks remain in tight supply, and those that are available continue to bring sky-high prices. With freight rates still extremely strong and supply of new trucks curtailed, market fundamentals still favor the seller.